A critical component of both economic and perceptual decision-making under uncertainty is the belief formation process. However, most research has studied belief formation in economic and perceptual decision-making in isolation. One reason for this separate treatment may be the assumption that...

Abstract We examine how owning a good affects learning and beliefs about its quality. We show that people have more extreme reactions to information about a good that they own compared to the same information about a non-owned good: ownership causes more optimistic beliefs after receiving a...